Nuclear’s Slice of the Climate Pie

Photo by <a href="http://www.flickr.com/photos/toucanradio/1203009991/">Toucanradio</a>, via Flickr.

For indispensable reporting on the coronavirus crisis, the election, and more, subscribe to the Mother Jones Daily newsletter.


Senators hoping to pass a climate and energy bill this year have listed increased support for nuclear power as one of the major enticements for Republicans and apprehensive Democrats to back the legislation. Barack Obama gave nuclear power a shout-out in his State of the Union address last week, and Lindsey Graham of South Carolina, the lone Republican collaborating on a bill, has made it clear that nuclear incentives are among his top priorities, which he believes could help garner wider support.

Yesterday, The Hill obtained a draft of the nuclear title that is expected to be included in the Senate bill, which includes basically everything the nuclear industry has asked for: additional federal loan guarantees to spur the construction of new plants, tax breaks and a streamlined approval process for new plants.

Most notably, it calls for, “A doubling the authorization for loan guarantees from $48.5 billion to $100 billion, of which $38 billion will be available for nuclear plants.” (The Department of Energy announced on Monday that it plans to triple loan guarantees, to $54.5 billion, so it’s been a good week for the industry.) The draft of the Senate language would also give nuclear power the same investment tax credits that wind and solar power currently receive.

The office of Sen. John Kerry (D-Mass.) says this is not the most current draft, but the senator confirmed to The Hill that the incentive and guarantees are part of their plan. He also said that they are making progress on titles dealing with renewables, natural gas, and offsets, but haven’t reached a decision on the mechanism to cap and price carbon dioxide. Kerry, Graham and co-sponsor Joe Lieberman have made it clear that they don’t intend to release a final package, however, until they have the votes to pass it.

SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

payment methods

SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate